Ford announced a $3.5 billion electric vehicle factory in its home state of Michigan, where it will produce EV batteries with a lithium iron phosphate chemistry that it says are more durable, faster charging, and more affordable than its current lineup of EVs.
Ford will develop the LFP batteries alongside China’s Contemporary Amperex Technology Co. Limited (CATL), a global producer of EV batteries — though the automaker stressed that it will own and operate the plant outright through…
